After a loan is disbursed
* During a period of deferment, the government only pays toward accruing interest on subsidized loans.
** If you are a first-time borrower on or after July 1, 2013 and have exceeded 150% of the published length of your current program,
you could potentially lose the subsidy on your subsidized loan while you are enrolled and during any grace or deferment periods.
The amount of interest accrual varies with the number of days that elapse between payments.